Update on convertible share issue (1134W)
24 Janvier 2012 - 6:20PM
UK Regulatory
TIDMMBW
RNS Number : 1134W
Mobilewave Group PLC
24 January 2012
24(th) January 2012
MobileWave Group plc
("MobileWave" or the "Company")
GBP2 Million Convertible Preference Share Issue Fully
Subscribed
AIM-listed MobileWave Group Plc ("MobileWave"), a global mobile
marketing, loyalty and technology company, today announced that the
GBP2 million convertible preference share issue, approved by a
shareholder resolution on 31(st) May 2011, has now been fully
subscribed.
MobileWave expects to receive the final commitment to the
convertible preference share issue, amounting to US$2 million, by
the last half of February 2012. Receipt of the balance of the
committed funds enables MobileWave to finance the first tranche of
its acquisition of Ariose Software Pvt Ltd ("Ariose"), as announced
on 12 December 2011. Ariose is a global mobile application design
and technology solutions company developing innovative applications
for leading brands. MobileWave will leverage Ariose's proprietary
award winning technologies and resource capabilities, thereby
assisting its clients by servicing all aspects of the mobile
customer lifecycle. Popular product solutions include Event Apps
for large public attraction events, Mobile Tracker for businesses
on the move, and Community Apps to enable connectivity and
information sharing within social networks. The acquisition allows
MobileWave to bring world-class technical expertise and skills
in-house, while at the same time strengthening the senior
management team.
In addition a proportion of the funds raised will also be
invested in further developing the company's operations, including
the sales and marketing functions.
Rory Stear, Executive Chairman, MobileWave Group plc commented:
"This is a significant milestone in the company's history. As well
as giving our shareholders confidence, significantly, today's
announcement further enables us to build the business and in doing
so, sets us on the right path to becoming a leading global mobile
relationship management and solutions partner of choice."
MobileWave is a mobile loyalty and technology company enabling
customers and fans to engage, earn points and rewards, and share
updates from their local brand. MobileWave offers integrated
service modules that enable brands and customers to Find and Engage
with each other, exchange loyalty building Rewards, Share offers
across social media, receive Targeted coupons and promotions
leveraging powerful user Analytics, CR Codes and vouchers.
- Ends -
For further information, please contact:
Caroline Hole-Jones 01225 318000
The Splash Partnership caroline.hole-jones@tsplashp.com
MobileWave Group plc rstear@mobilewave.com
Rory Stear, Chairman
Charles Stanley Securities 020 7149 6000
Nominated Adviser & Broker carl.holmes@csysecurities.com
Dugald J.Carlean / Carl Holmes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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